N Renuka Corp. has manufactured a broad range of quality products since 1991. The following information is available for the company's fiscal year ended Febr 2021. Renuka follows ASPE Renuka has several notes payable outstanding, all notes have been issued to mature in one year. In each case, the annual interest is due on the anniversary di the note each year (same as the due dates listed). The information on Notes are given below. Renuka provides 2 years of standard warranty on all its products, and customers can purchase 2 years of additional warranty (extended warranty) for 540. Av selling price of Renuka's products is $75. Renuka estimates that 1.5% of its products sold will return for warranty claims within the first two years. It is also e that average warranty repair cost is $22. Renuka's sales figures and warranty information are given below. Note Due Date Principal Amount Interest Rate A 01-Apr-21 160,000 3% B 31-May-21 200,000 2.20% C 15-Nov-21 350,000 1.65% Space for showing work 36 Create Journal Entries related to the Notes on Feb 28, 2021 37 Debit 38 39 40 41 42 43 44 45 461 47 Credit Full Mark Credit Debit Amount Amount Mark Rcvd Note-A Note-B Note-C 4 4 44 44 49 Based on the information on Warranty, Prepare Warranty Related Journal Entries for 481 G H 49 50 Based on the information on Warranty, Prepare Warranty Related Journal Entries for Feb 28, 2021 Fiscal Year (Mar- 51 Feb) 2019 2020 2021 52 Sales (Units) 125,000 134,000 165,000 Extended Warranty Sold 11,000 14,000 19,000 53 (number) Warranty 54 Provided (Units) 1,678 2,850 3,500 Actual Repair Cost 55 ($) 42,000 66,300 85,200 56 Debit 57 58 Credit Debit Amount Assurance Type Warranty J/E, Feb 28, 2021 Credit Amount Full Mark Mark Rcvd D E B Assurance Type Warranty J/E, Feb 28, 2021 9 0 1 52 Service Type Warranty J/E, Feb 28, 2021 44 G 4 4. 66 67 65 Assume that all warranty related J/E is done on last day of the fiscal year. Show the entries that will be entered into Warranty Liability t-account and determine end of year balances. Full Mark Warranty Liability 68 69 01-Mar-18 70 28-Feb-19 71 01-Mar-19 Mark Rcvd 37,300.00 balance entries 4 balance 2 53 64 Assume that all warranty related J/E is done on last day of the fiscal year. Show the entries that will be entered into Warranty Liability t-account and determine end of year balances. B 01-Mar-18 . 28-Feb-19 1 01-Mar-19 2 28-Feb-20 3 01-Mar-20 4 28-Feb-21 5 01-Mar-21 Full Mark Warranty Liability Mark Rcvd 37,300.00 balance entries balance entries balance 424244 entries balance 6